Title: AN ACT TO REVISE THE LAWS CREATING THE MISSISSIPPI WINDSTORM UNDERWRITING ASSOCIATION; TO AMEND SECTION 83-34-1, MISSISSIPPI CODE OF 1972, TO DEFINE CERTAIN TERMS; TO AMEND SECTION 83-34-3, MISSISSIPPI CODE OF 1972, TO REVISE THE ORGANIZATIONAL STRUCTURE OF THE ASSOCIATION; TO CREATE SECTION 83-34-4, MISSISSIPPI CODE OF 1972, TO REQUIRE ALL BROKERS FOR NONADMITTED INSURERS TO COLLECT AND REMIT TO THE ASSOCIATION A NONADMITTED INSURER FEE; TO AMEND SECTION 83-34-5, MISSISSIPPI CODE OF 1972, TO REVISE THE POWERS OF THE ASSOCIATION; TO AMEND SECTION 83-34-7, MISSISSIPPI CODE OF 1972, TO REVISE THE MEMBERSHIP OF THE BOARD OF DIRECTORS; TO AMEND SECTION 83-34-9, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR ASSESSABLE INSURER PARTICIPATION; TO CREATE SECTION 83-34-10, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ASSOCIATION, WITH CONSENT OF THE COMMISSIONER OF INSURANCE, TO LEVY REGULAR ASSESSMENTS AGAINST ASSESSABLE INSURERS UPON CERTAIN EVENTS; TO AMEND SECTION 83-34-11, MISSISSIPPI CODE OF 1972, TO DIRECT THE COMMISSIONER OF INSURANCE TO IMPLEMENT A SURCHARGE ON ALL PROPERTY AND CASUALTY PREMIUMS STATEWIDE IN ORDER TO RECOVER REGULAR ASSESSMENTS AND REIMBURSE ASSESSABLE INSURERS; TO CREATE SECTION 83-34-12, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR DEFERRAL OF A REGULAR ASSESSMENT BY ORDER OF THE COMMISSIONER OF INSURANCE; TO AMEND SECTION 83-34-13, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIRED CONTENTS OF THE ASSOCIATION'S PLAN OF OPERATION; TO AMEND SECTION 83-34-15, MISSISSIPPI CODE OF 1972, TO REVISE THE PROCESS FOR APPLICATION FOR COVERAGE; TO AMEND SECTION 83-34-17, MISSISSIPPI CODE OF 1972, TO AMEND IN CONFORMITY WITH OTHER PROVISIONS; TO AMEND SECTION 83-34-19, MISSISSIPPI CODE OF 1972, TO REVISE THE PROCESS FOR APPEAL OF DECISIONS MADE BY THE ASSOCIATION OR COMMISSIONER OF INSURANCE; TO AMEND SECTION 83-34-21, MISSISSIPPI CODE OF 1972, IN CONFORMITY WITH OTHER PROVISIONS; TO AMEND SECTION 83-34-23, MISSISSIPPI CODE OF 1972, TO PROVIDE IMMUNITY FROM LIABILITY FOR THE ASSOCIATION AND THE COMMISSIONER OF INSURANCE; TO BRING FORWARD SECTION 83-34-25, MISSISSIPPI CODE OF 1972, FOR PURPOSE OF AMENDMENT; TO AMEND SECTION 83-34-27, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE EXAMINATION OF DATA AND PAYMENTS OF ASSESSABLE INSURERS AND BROKERS FOR NONADMITTED INSURERS; TO BRING FORWARD SECTION 83-34-29, MISSISSIPPI CODE OF 1972, FOR PURPOSE OF AMENDMENT; TO CREATE SECTION 83-34-31, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE ASSOCIATION TO ISSUE BONDS AND ENTER INTO LOANS; TO CREATE SECTION 83-34-33, MISSISSIPPI CODE OF 1972, TO PROVIDE FOR A SURCHARGE FOR EXCESS HURRICANE LOSSES; TO CREATE SECTION 83-34-35, MISSISSIPPI CODE OF 1972, TO DIRECT THE COMMISSIONER OF INSURANCE TO APPROVE ASSOCIATION RATES AT LEAST ADEQUATE TO FUND ANNUAL REINSURANCE ABOVE A CERTAIN RESERVE; AND FOR RELATED PURPOSES.

Information pertaining to this measure was last updated on 01/30/07 at 18:11.